Corsair Gaming (NASDAQ:CRSR) Shares Gap Up – Time to Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.09, but opened at $8.77. Corsair Gaming shares last traded at $9.0270, with a volume of 1,458,759 shares changing hands.

Analyst Ratings Changes

CRSR has been the subject of a number of research analyst reports. Robert W. Baird set a $6.00 price target on Corsair Gaming in a research report on Friday, February 13th. B. Riley Financial increased their price target on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Craig Hallum increased their price target on Corsair Gaming from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wedbush increased their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.33.

Corsair Gaming Trading Up 10.0%

The firm has a fifty day simple moving average of $6.36 and a two-hundred day simple moving average of $6.03. The firm has a market capitalization of $950.72 million, a P/E ratio of 111.08 and a beta of 1.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The business had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. During the same period in the previous year, the business posted $0.11 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Corsair Gaming, Inc. will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Corsair Gaming by 149.5% in the 1st quarter. Bank of America Corp DE now owns 230,700 shares of the company’s stock valued at $1,280,000 after acquiring an additional 138,242 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Corsair Gaming by 160.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock worth $686,000 after acquiring an additional 76,054 shares during the period. Cetera Investment Advisers bought a new position in shares of Corsair Gaming in the first quarter worth $56,000. First Trust Advisors LP bought a new position in shares of Corsair Gaming in the first quarter worth $606,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Corsair Gaming by 2.1% in the first quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock worth $1,266,000 after acquiring an additional 4,735 shares during the period. 25.66% of the stock is currently owned by institutional investors.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.